Banking - To Boost FLPP KPR distribution

Banking - To Boost FLPP KPR distribution Towards the end of 2023, a number of banks continue to optimize the distribution of housing subsidies for Home Ownership Credit (KPR) Housing Financing Liquidity Facilities (FLPP) for low-income people (MBR). The Public Housing Savings Management Agency (BP Tapera) noted that as of Sep23, the realization of FLPP fund distribution reached 166,883 housing units or IDR 18.91 trillion. By the end of the year, the total distribution of FLPP funds will reach 229,000 housing units. (Source: Kontan). Comment: We believe total FLPP distribution will be reached as targeted. As the largest FLPP distributor, we think BBTN will become as the main beneficiary (BBTN targeted the distribution of FLPP and Tapera KPR this year at around 182,250 units).